DBS CEO Piyush Gupta's FY2023 pay cut by 27% despite record earnings

In contrast, he received $15.4 million for FY2022.

Gupta's pay cut was to signal responsibility for a series of digital disruptions experienced by the bank's customers.

The pay cut was already flagged last month. 

In contrast, DBS paid chairman Peter Seah total fees of $1.957 million for FY2023, versus $1.947 million for FY2022.

See also: DBS thermal coal exposure down 33% from 2021, 'on track' to green five out of seven sectors: 2023 sustainability report

Lead independent director Olivier Lim, a former CFO of CapitaLand, remains the second best paid director, drawing $452,000 for FY2023, up from $429,000.

DBS shares gained 0.6% to change hands at $33.60 as at 9.10am.